President Donald Trump talked about institutional single-family home ownership and housing affordability, as well as inflation, but left credit card rate caps, debanking and even crypto alone at the State of the Union address.
Bank employees are likely adopting the OpenClaw AI assistant on the sly to boost productivity, but the tool's deep integration exposes networks to cyber threats.
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Credit One Bank agreed to a $10.2 million settlement after almost five years of litigation with a group of California district attorneys. The suit alleged that the bank's vendors made harassing phone calls to borrowers.
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Social Security numbers, business addresses and other sensitive information were exposed. The company has fixed the error and refunded the victims.
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Critics say more regs for BNPL are overkill, but proponents hope the state rule will be a framework for other states.
Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.
The payments firm wants to issue a stablecoin called PAYO-USD, joining a wave of digital asset companies seeking federal bank charters.
Federal Deposit Insurance Corp. report shows margins widened and profitability remained high even as credit quality saw some wobbles from consumer and commercial loan portfolios.
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A negative work environment with unhappy employees is going to adversely impact the customer experience, even when employees don't voice their dissatisfaction out loud. Bank managers need to create a positive culture.
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The headlong rush to apply AI to all sorts of internal systems runs the risk of damaging consumer trust in the industry. Banks should look to their history and be deliberate about how they integrate AI into their systems.
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As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department's Financial Crimes Enforcement Network should take the lead in implementing needed reforms.
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After a long price correction in the art market, Bank of America is expanding its advisory services for collectors — and it's not alone.
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Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.
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Dennis Devine joins the San Francisco-based banking giant after a stint at Chicago-based Alliant Credit Union, which grew rapidly during his four years at the helm.
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Hackers used stolen credentials to access the French FICOBA database, exposing names and account numbers but failing to access funds directly.
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The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.
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